BELRE AG

The company's purpose is to hold and manage assets and real estate, as well as provide related services, in particular portfolio management, purchase/sale, financing and coordination of construction projects. The company may establish branches and subsidiaries in Switzerland and abroad and participate in other companies in Switzerland and abroad, as well as conduct all business that is directly or indirectly related to its purpose. The company may acquire, encumber, sell and manage real estate in Switzerland and abroad. It may also provide financing for its own account or for the account of third parties, as well as grant guarantees and sureties for subsidiaries and third parties.